Schedule I Articles 23-26 - Conveyance, Copies, Counterparts and Customs Bonds
Classify each instrument by legal substance, State schedule, exemptions, market value and composite-document rules before quoting duty.
Dedicated Finin2min Summary - Chapter in 2 Minutes
- Article 23: Conveyance - verify the current State article, rate, base, exemption and related-document treatment.
- Article 24: Copy or extract - verify the current State article, rate, base, exemption and related-document treatment.
- Article 25: Counterpart or duplicate - verify the current State article, rate, base, exemption and related-document treatment.
- Classify each instrument by legal substance, State schedule, exemptions, market value and composite-document rules before quoting duty.
- Do not quote a rate without the current State/UT Act, Schedule, amendments, surcharge/cess, market-value rule and authorised payment method.
Current statutory text / controlled source map
Section-by-section provision map
| Provision | Subject | Status | Finin2min clause-by-clause decode | Implementation | Evidence/control |
|---|---|---|---|---|---|
| Article 23 | Conveyance | STATE RATE / CENTRAL CLASSIFICATION | Article 23 classifies conveyance; the State schedule and legal substance control the rate and exemptions. | Compare the operative rights, consideration, market value, related documents and State-specific definition. | Final instrument, transaction map, State schedule, valuation, adjudication and payment certificate. |
| Article 24 | Copy or extract | STATE RATE / CENTRAL CLASSIFICATION | Article 24 classifies copy or extract; the State schedule and legal substance control the rate and exemptions. | Compare the operative rights, consideration, market value, related documents and State-specific definition. | Final instrument, transaction map, State schedule, valuation, adjudication and payment certificate. |
| Article 25 | Counterpart or duplicate | STATE RATE / CENTRAL CLASSIFICATION | Article 25 classifies counterpart or duplicate; the State schedule and legal substance control the rate and exemptions. | Compare the operative rights, consideration, market value, related documents and State-specific definition. | Final instrument, transaction map, State schedule, valuation, adjudication and payment certificate. |
| Article 26 | Customs-bond | STATE RATE / CENTRAL CLASSIFICATION | Article 26 classifies customs-bond; the State schedule and legal substance control the rate and exemptions. | Compare the operative rights, consideration, market value, related documents and State-specific definition. | Final instrument, transaction map, State schedule, valuation, adjudication and payment certificate. |
Finin2min implementation explanation
Instrument and jurisdiction
Identify legal substance, execution location, property situs, parties, consideration, related instruments and the controlling State/UT law.
Rate and value
Apply the correct article, statutory base, market value, cap, minimum, surcharge, concession, remission and set-off with a reproducible calculation.
Payment and execution
Use an authorised stamp/e-stamp/franking channel, verify certificate, cancel where required and block execution until stamping controls are complete.
Cure and evidence
Preserve the original, payment proof, valuation and source pack. Route uncertainty through adjudication and defects through lawful impounding/cure or refund.
Practical examples and calculations
A property transaction combines an agreement, possession, development rights, power of attorney and later conveyance. Each embedded right, State market value and available set-off must be analysed before execution.
| Calculation/control | Method | Evidence |
|---|---|---|
| Market value | Use the higher/required base under current State law and guideline-value procedure. | Valuation and circle/guideline data |
| Composite duty | Map principal and ancillary instruments and available credit/set-off. | Document matrix and adjudication |
| Closing cost | Reconcile duty, surcharge, registration fee, TDS, GST and consideration. | Closing statement and receipts |
Practical transaction application
- Classify every operative instrument and linked document by substance.
- Identify State/UT, execution date/place, property situs, payer and market-value rule.
- Capture the current Act, Schedule, amendments, notifications, concessions and authorised payment method.
- Compute and approve duty, surcharge, set-off, registration fee and tax overlays before signing.
- Verify certificate, execute/cancel, register/file, preserve evidence and manage adjudication, impounding, refund or litigation.
Authority, consent and execution controls
- Correct legal entities, capacity and beneficial ownership.
- Board, partner, trustee, attorney or delegated authority.
- Final instrument version and all incorporated schedules.
- Execution date, place, witnesses, electronic signature and cross-border formalities.
- Independent confirmation that stamping method and amount are valid for the jurisdiction.
Stamp duty and registration alerts
Evidence and document-retention checklist
- Official Act, Schedule, amendment and Gazette used.
- Classification and linked-document memorandum.
- Valuation, consideration, debt and market-value workings.
- Adjudication/remission/concession approval.
- E-stamp/franking/adhesive certificate and verification result.
- Executed original, cancellation, registration and certified-copy records.
- Impounding, deficit, penalty, refund and appeal chronology.
Performance, delivery and payment controls
Closing gate
Do not release consideration, possession, securities or originals until stamping and execution conditions are satisfied.
Reconciliation
Reconcile duty and fee receipts to the exact instrument, amount, date, State, certificate and accounting entry.
Breach, loss, mitigation and remedy framework
Quantify deficit duty, penalty, interest/recovery, inadmissibility delay, transaction failure, registration consequences, counterparty indemnity and professional exposure. Consider adjudication, voluntary payment, impounding, endorsement, refund, appeal/reference, settlement and litigation.
Limitation and forum controls
Record the execution, first-receipt, impounding, Collector order, refund application, reference/appeal and underlying claim dates. The Stamp Act clock and the substantive contract/property/arbitration limitation clock must be managed separately.
Arbitration and mediation interface
Do not assume an arbitration clause or settlement avoids stamping questions. Apply current Supreme Court law, forum procedure and State amendments, and separate curability of stamp defects from validity, jurisdiction and merits.
Company, partnership, GST and tax overlays
Check Companies Act/LLP authority and filings, securities and depository rules, GST characterisation, income-tax/TDS, capitalisation or expense treatment, RERA/registration, FEMA and IBC consequences without netting them against stamp duty.
Finin2min Q&A
What is the first step?
Classify the legal instrument, State/UT and operative rights before applying Schedule I Articles 23-26 - Conveyance, Copies, Counterparts and Customs Bonds.
Can an online rate calculator replace legal classification?
No. Duty depends on the instrument substance, State schedule, market value, amendments, exemptions and related documents.
Is insufficient stamping always fatal?
The consequences and cure depend on the forum, State amendments and statutory impounding/payment process. The original instrument and exact current law must be reviewed.
What should the evidence file contain?
Official legal sources, final instrument, valuation, linked-document matrix, adjudication, e-stamp/franking proof, execution/cancellation evidence, registration record and cure/refund chronology.
Chapter-specific decision flowchart
